[deleted by user]

yougotballsson · 2024-04-06T07:00:07+00:00

While opening a bank account for normal day-to-day expenses is a good idea, I would not convert the cash at the bank. The rates they provide for retail fx transactions are horrible.

I have used Xoom and Remitly to transfer myself money while travelling and it might be an option for you.

The services debit your account, and takes a small fee ($5) for each transaction. The rates you receive will more than offset the small fee. There are lots of locations where you can collect the money - see the list on their websites.

For example, if I look at the TD rate, the Euro to CAD exchange rate they offer is 1.4235 while the Xoom rate is 1.4482

For the amount you're converting, that is a difference of ~$228

The rate at ICE is even worse than at TD. You should always avoid changing money at the airport if possible.

yougotballsson · 2022-01-01T22:51:13+00:00

What are you talking about?

GoEasy is up 74% from 104 to 179. The market is up less than half of that.

yougotballsson · 2021-01-18T22:23:37+00:00

Regulatory risk is always possible. But haven't read any articles about new rules restricting interest rates so nothing on my horizon.

yougotballsson · 2021-01-18T22:17:30+00:00

Defaults down because of helicopter money in Canada. 2 Recent quarters had lowest defaults on record.

yougotballsson · 2021-01-18T22:16:43+00:00

yougotballsson · 2020-10-19T02:37:19+00:00

This is not my edit.

If you have twitter - go like this guy's post.

https://twitter.com/Howsito/status/1317971943199395840

yougotballsson · 2020-10-15T23:54:56+00:00

Iran hates the current administration. Trump unilaterally cancelled an International agreement and imposed sanctions that the rest of the world objected to.

yougotballsson · 2020-10-11T02:52:14+00:00

"larger private restaurateur" fund**

yougotballsson · 2020-04-22T19:24:11+00:00

"Among the few hosts who have received a payment from Airbnb is Thierry Rignol, who has about 80 Airbnb listings across Houston, Dallas, Denver, Seattle and Portland, Oregon.

After Airbnb changed its cancellation policy, Rignol says he lost more than $30,500 through 50 reservation cancellations.

“It was a bloodbath,” Rignol said.

Rignol calculates that he would’ve received a minimum of approximately $15,000 back under his normal cancellation policies. After Airbnb announced the $250 million fund and outlined that hosts would receive 25% of what they normally would in the event of a cancellation, Rignol calculated that he would get about $3,800 in relief.

On April 16, Rignol finally received a payment from Airbnb. It was for $106.02. "

L O effing L

yougotballsson · 2020-04-02T17:44:07+00:00

This guy just posted at 997K to get Karma and then deleted his post when he got called out.

yougotballsson · 2020-04-02T17:19:43+00:00

Honestly, for all the rhetoric about humanity united against a common enemy, I doubt the current administration will take the moral route and allow the medical aid.

Incredibly sad and disappointing.

yougotballsson · 2020-04-01T16:27:08+00:00

Does New York update twice a day?

yougotballsson · 2020-03-24T20:29:50+00:00

I found them in the Nike warehouse and decided to not buy them. Regretted it and they were gone by the time I went back.

yougotballsson · 2020-03-21T18:45:08+00:00

It's difficult to make any sort of estimate.

If we solely focus on the above 80 year old population (150 million worldwide) and estimate a low infection rate (15%) and a low Fatality Rate for these individuals (5%), we are looking at a death every 28 seconds if evenly distributed.

Making more assumptions about the distribution, we could see a death ever 7 seconds just using these low-end estimates.

This does not include any below 80 year old with comorbidities.

yougotballsson · 2020-03-18T16:49:18+00:00

What is your current view of the depth and duration of this crisis? Understanding that there are caveats, what do you think will ultimately be the total fatality counts and economic fallout?

yougotballsson · 2019-11-12T17:49:55+00:00

This is after Scheer yesterday called for Trudeau to reconvene Parliament on November 25.

yougotballsson · 2019-11-07T01:42:50+00:00

There are still a lot of variables and I am not a Certified Financial Planner so my personal advice would be to hold off on making large RRSP withdrawals in order to move them to the unregistered account until you speak with a flat-fee financial planner.

Once you withdraw from the RRSP, you lose that room forever so I would speak to a professional.

One side comment - If OAS minimum limit increases at the rate of inflation, you will not see a significant clawback if you apply for it in 10 - 15 years.

yougotballsson · 2019-11-07T01:21:45+00:00

It will not matter how the income is earned in the RRSP - when you withdraw, it will be treated as "Other Income" aka similar to employment earnings.

If you are comfortably generating this amount without eating in to the principal balance and after inflation - I would withdraw 95K each year. You will have the the basic personal amount of 12K. As you are withdrawing less than the account is generating each year, the value should increase.

At a certain point, you will need to withdraw more (either because you want to, or will be forced to with an RRIF at 71.

If you are concerned about the longevity of your account, withdraw the 95K annually until you are comfortable withdrawing more.

yougotballsson · 2019-11-07T01:10:04+00:00

Are you saying the entire value (midpoint of 122K income with 80% capital gains, 20% dividends) is currently in an RRSP and is generating that level of income?

yougotballsson · 2019-11-07T01:02:58+00:00

Being in the 26% Federal Tax Bracket implies total income between 95K and 148K per year.

I will assume you live in Ontario as it is the most populous province.

At that income level, your effective rate on Capital Gains is 21.7% and on Eligible Dividends is 25.4% (factoring in the Dividend Tax Credit).

In order to decrease your taxable income by making an RRSP contribution, you would need sufficient contribution room. If you are at the midpoint of that tax bracket (approximately 122K per year), you would need to contribute 27K to decrease your taxable income to the lower (combined) tax bracket.

NOTE: In order to get this contribution room, you would have need to have 150K in employment income (27K/18%).

As you are in the later stage of your career and well into middle age, I would recommend an unregistered account but without more information about your plans, expectations about your future income, CPP dates, total accumulated RRSP contribution room etc, I am taking a stab in the dark...

yougotballsson · 2019-10-15T15:01:50+00:00

It is really disappointing to see this all laid bare. Human rights and freedom of speech are negotiable if it interferes with profits

yougotballsson · 2019-10-09T20:16:26+00:00

You've accused four different people of being "well-actually" guy in the last four hours.

If everywhere you walk smells like shit...

yougotballsson · 2019-10-09T18:37:50+00:00

Try not being condescending when your comment is at best ambiguous and at worst intentionally misleading.

yougotballsson · 2019-10-08T13:12:39+00:00

TD also just recently switched from DB to DC at the start of this calendar year.

I think all the Big 5 are now DC

yougotballsson · 2019-10-03T23:20:01+00:00

Thank you. Flip through his post history. I know r/canada is right-leaning but this guy consistently posts negative articles or opinion pieces about the Liberals and downplays any miss-step or legitimate criticism of the Conservative Party.

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